On The Causes And Countermeasures Of Financial Predicament

The concepts of financial distress and financial crisis are basically the same,and are often used without distinction,which is the dilemma faced by enterprises because of insufficient cash flow.In the use of the concept of financial distress,the business community often uses financial distress,financial crisis and financial risk and other expressions.From the 1930 s onwards,foreign scholars began to study the phenomenon of financial distress,and accumulated rich research experience.In the 1970 s,China began to carry out theoretical research on financial predicament,which was 40 years later than abroad.At present,the market economy tends to globalization and rapid development,fierce competition,fast-changing,individual once unicorn enterprise,because of the system rigidity and other reasons,gradually lost its leading position in the market,deep financial difficulties,and even on the verge of bankruptcy.Therefore,the research on the financial dilemma of enterprises is becoming more and more hot.As a strategic pillar industry,the oil and gas industry has a direct bearing on the security and stability of the national economy.For a long time,the industry for the state capital control,its field is rarely open to private enterprises and foreign capital,the relevant enterprise volume is large and in a monopolistic position,and thus strong profitability,representing enterprises in the oil,Sinopec long-term in the world's top 500.In recent years,the impact of the global economic weakness,oil and gas demand has slipped,prices plummeted,foreign oil and gas industry began to lose money,especially the oil service industry,but also the hardest hit by the loss.Domestic oil and gas industry because of the protection of national policy,outside of the impact on its small,PetroChina,Sinopec and other large state-owned enterprises have not yet suffered losses,but its profitability has declined significantly.The small and medium-sized fossil energy enterprises relying on the survival of large state-owned enterprises,due to their own low risk-resistant ability,most companies appear years of losses,into financial difficulties.In this paper,PetroChina holding xx Natural Gas Co.,Ltd.as the research object,according to its 2013-2016 financial statement data and other indicators,data,from the solvency,operating capacity and profitability,and so on,described the company into financial distress performance.Then from the internal management and external environment,in-depth analysis of the company from the big profit into the financial plight of the reasons,then put forward eight of the company how to get rid of the financial plight of the suggestions and measures,and finally the case is summarized,draw the relevant conclusions.This paper focuses on the financial indicators and operating conditions of XX Natural Gas Company Limited in a comprehensive and in-depth analysis of the performance of the financial dilemma,the multidimensional degree of exploration of the reasons for its financial plight,and put forward its financial difficulties to get rid of the specific measures to make the research results of practical value.The innovation point is that this text jumps out the traditional and complex financial distress model and the analytic method,uses the scholar's theory Foundation and the author's work practice,and links the enterprise to face the market environment,the economic situation and the technological progress and so on,has established the more scientific consummation company financial predicament analysis and the solution,Strive to transform the theoretical research of scholars into a practical tool with strong operability.